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LLC – Top Choice for Emerging Businesses

by roncappuccio | Sep 3, 2024 | LLC

LLC (limited liability company) is a popular choice for small to medium-sized businesses due to its ability to provide liability protection for owners and favorable tax treatment as a partnership. LLC owners can also elect to be taxed as a partnership, allowing for pass-through taxation and special allocations of tax benefits. Unlike S corporations, LLCs are not subject to restrictions on the number of owners and types of ownership interests. It’s important to consider state regulations when choosing an LLC structure

FTC Bans NonCompetition Contracts with Employees

by roncappuccio | Apr 24, 2024 | business, employment

Trade Secrets, Customers, and business techniques are hard to protect from employees who take the information to new employers. They "sell" the information in return for a job or more pay. Realistic covenants against competition can have a deterrent effect even though...

Protect your Corporation on Shareholder Loans

by roncappuccio | Apr 1, 2024 | Corporate Loans, corporations

Shareholder Loans - Protect Your Business from the IRS When borrowing money from your closely held corporation, adhere to the following five guidelines to defend IRS challenges that the loan proceeds are disguised compensation or dividends: Written Loan Agreement -...

IRS Targets High-Income Non-Filers

by roncappuccio | Mar 9, 2024 | tax returns

IRS Targets High-Income Non-Filers The Internal Revenue Service (IRS) is shifting gears as it targets thousands of high-income Americans who have not filed their tax returns for several years. This is part of a broader effort to enforce tax compliance and...

Take cash from your “C” corporation while avoiding dividend treatment

by roncappuccio | Feb 26, 2024 | corporate tax

If you own a company and want to take money out of it without paying a lot of taxes, there are different ways to do it. One way is to get paid a salary for the work you do for the company. Another way is to get benefits like insurance or help with taking care of your family. You can also get money back if you lent money to the company or sold something to it. But you have to be careful and follow certain rules so that you don’t have to pay a lot of taxes. If you want to learn more about these ways, I can help you get the maximum out of your corporation at the minimum tax cost. Please call me at 856-665-2121.

Are you taking your spouse on a business trip? Can you write off the costs?

by roncappuccio | Feb 21, 2024 | Firm News

Are you taking your spouse on a business trip? Can you write off the costs? Post-pandemic global business travel is projected to reach $928.4 billion by 2030, following a reported market value of $665.3 billion in 2022. Business owners who travel may have questions...

Nine tax considerations if you’re starting a business as a sole proprietor

by roncappuccio | Feb 5, 2024 | sole proprietor

Nine tax considerations if you’re starting a business as a sole proprietor When launching a small business, many entrepreneurs start as sole proprietors. If you’re launching a venture as a sole proprietorship, you need to understand the tax issues involved. Here are...

Nexus – NJ taxes out-of-state businesses

by roncappuccio | Feb 2, 2024 | Firm News

If you "think" about doing business with anyone in New Jersey, the State is coming after you! New Jersey recently adopted the 200-transactions economic nexus standard for corporate income tax purposes. For tax years ending from July 31, 2023, NJ will now claim nexus...

Employer-Paid Education Expenses Tax Advantages

by roncappuccio | Jan 21, 2024 | education assistance plans

Reimbursements for Job-Related Qualified Education Expenses An employer can give employees unlimited tax-free reimbursements to cover qualified education expenses. In a nutshell, qualified education expenses are for education that: If required by the employer or by...

Business owner goes to jail trying to hide income using a check-cashing agency

by roncappuccio | Jan 4, 2024 | business tax, civil penalty, criminal tax prosecution

A business owner goes to jail trying to hide income using a check cashing agency. There is a mistaken and absolutely crazy belief using a check cashing agency will enable a business to hide gross receipts from the IRS. Not true! The IRS frequently audits check-cashing...

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Next Entries »

LLC – Top Choice for Emerging Businesses

FTC Bans NonCompetition Contracts with Employees

Protect your Corporation on Shareholder Loans

IRS Targets High-Income Non-Filers

Take cash from your “C” corporation while avoiding dividend treatment

Are you taking your spouse on a business trip? Can you write off the costs?

Nine tax considerations if you’re starting a business as a sole proprietor

Nexus – NJ taxes out-of-state businesses

Employer-Paid Education Expenses Tax Advantages

Business owner goes to jail trying to hide income using a check-cashing agency

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